Get Started: Market for buying, selling businesses surges

By JOYCE M. ROSENBERG Features Associated Press

SALES OF BUSINESSES

Continue Reading Below

The market for buying and selling small businesses is gathering momentum.

BizBuySell.com, an online market for small companies, counted 2,589 sales in the third quarter, up nearly 25 percent from 2,090 a year earlier. Sales are so far following the pattern of 2016, rising continuously from the start of the year; sales activity tends to dip in the fourth quarter.

The economy and optimism about tax reform and a more lenient government attitude about regulations may be contributing to the continued strength of the small business market, BizBuySell.com says.

The sales figures are based on transactions reported by business brokers across the country surveyed by BizBuySell.com.

HOME REMODELING OUTLOOK

Continue Reading Below

The home remodeling market is expected to remain strong into the third quarter of 2018, an upbeat sign for the small businesses that dominate the industry. That's the finding of Harvard University's Joint Center for Housing Studies, which assesses the strength of the market each quarter.

The center's Leading Indicator of Remodeling Activity forecasts that home renovation and repair spending will increase at an annual rate of 6.3 percent in the current quarter, with that pace picking up to 7.7 percent by the third quarter of next year.

The stronger economy and the short supply of homes available for sale mean more people are willing to spend on remodeling their homes, says Chris Herbert, managing director of the center.

Damage caused by a spate of hurricanes in August and September may mean even more spending, says Abbe Will, a research associate at the center.

"There is certainly potential for even stronger growth in remodeling next year as major reconstruction and repairs get underway in affected regions," she says.

The Leading Indicator of Remodeling Activity is based on economic statistics including monthly sales reports on existing and new homes and new home construction, and on broad economic numbers including the gross domestic product and the Index of Leading Economic Indicators.

ONLINE SMALL BUSINESS CONFERENCE

Small business owners can get mentoring, attend networking sessions and take part in educational seminars during an online conference sponsored by SCORE, the organization that provides free counseling for small companies. It will be held on Thursday, Nov. 9, from noon to 5 p.m. Eastern time. You can learn more and register at http://bit.ly/2yYPvXy .

_____

Follow Joyce Rosenberg at www.twitter.com/JoyceMRosenberg . Her work can be found here: https://apnews.com/search/joyce%20rosenberg